There's no right or wrong way to do this, just varying levels of risk and the only proper route is the one you understand. 

Proper structuring with professional guidance is key to achieving both parties' goals.This post does not create a CPA-Client relationship.

You want to properly classify transactions such as Contributions/distributions if they are between the entity and the owner itself.If the entities are not direct owners, you have have a Due to / Due From to properly keep track of money owed between the entities.Best of luck!

However, in markets, like Dallas - proper, condos do well, but there are so many things to consider.

—and work with an accountant to make sure everything is properly documented.As long as your primary goal is to sell the property after renovating, your profits won’t be taxed like long-term rental income.

The risk of the business is on you and whether you have the expertise to pick the right asset, in the right location, and operate it properly.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Construction i completely understand it runs in my family. money is not a issue for me is getting the proper knowledge in this field so I do not fail.

Failing to follow proper procedures will cause even more delays.  

There’s a lot of opportunity locally, but one of the 3 keys to success in STR investing is having enough cash to do them properly.